S$247m top bid for Buangkok Drive/Sengkang East Drive site
By Ryan Huang | Posted: 02 June 2011 2136 hrs
SINGAPORE : A total of four bids, according to provisional results, were received by the Housing & Development Board (HDB) in the tender for a land parcel at the junction of Buangkok Drive and Sengkang East Drive.
The site, which has a gross floor area of over 58,000 square metres, is planned for condominium housing development.
The top bid came from Qingdao Construction at S$247 million, or S$391 per square feet per plot ratio (psf/plot ratio).
This was ahead of the next bid from Opal Star by about S$7 million.
The lowest bid was S$145 million from Best Desire.
The site can be developed into a condominium development of around 20 storeys with 550 units.
CB Richard Ellis executive director Li Hiaw Ho said: "The top bid of S$247 million or S$391 psf/plot ratio is within market expectations. A new project will breakeven at S$760 psf to S$780 psf."
He added that currently "units in H2O Residences at Sengkang West Avenue/ Fernvale Link are being marketed at the median price of S$940 psf and some 330 units of this 521-unit condominium have been sold to date."
- CNA /ls
- wong chee tat :)
Showing posts with label Buangkok Drive. Show all posts
Showing posts with label Buangkok Drive. Show all posts
Monday, June 6, 2011
Tuesday, March 29, 2011
HDB to launch tender for Sengkang residential site
HDB to launch tender for Sengkang residential site
By Stella Lee | Posted: 29 March 2011 2207 hrs
SINGAPORE : The Housing and Development Board (HDB) is launching the tender for a residential site at Buangkok Drive/Sengkang East Drive on Wednesday.
The site, which is slated for condominium development, can potentially yield 550 dwelling units.
It is being released for tender under the Confirmed List of the 1st Half 2011 Government Land Sales Programme.
Located to the east of Sengkang New Town, residents there will be served by the Buangkok MRT station.
The land parcel has an area of over 19,500 square metres, with a maximum gross floor area of about 58,600 square metres.
The site has a lease term of 99 years and the tender will close at noon on June 2.
Mr Ku Swee Yong, the CEO of International Property Advisor, said the supply was overwhelming for the area and may create problems, such as traffic congestion, later on.
He added: "Within 15 months from 1st Jan 2010 till today, we have a potential supply of almost 10,000 units of HDB and 6,000 units of private residences that will be completed in 2014-2015.
"And there are more Government Land Sales parcels coming up in the rest of this year - both on the confirmed and reserved lists and including ECs."
- CNA/al
- wong chee tat :)
By Stella Lee | Posted: 29 March 2011 2207 hrs
SINGAPORE : The Housing and Development Board (HDB) is launching the tender for a residential site at Buangkok Drive/Sengkang East Drive on Wednesday.
The site, which is slated for condominium development, can potentially yield 550 dwelling units.
It is being released for tender under the Confirmed List of the 1st Half 2011 Government Land Sales Programme.
Located to the east of Sengkang New Town, residents there will be served by the Buangkok MRT station.
The land parcel has an area of over 19,500 square metres, with a maximum gross floor area of about 58,600 square metres.
The site has a lease term of 99 years and the tender will close at noon on June 2.
Mr Ku Swee Yong, the CEO of International Property Advisor, said the supply was overwhelming for the area and may create problems, such as traffic congestion, later on.
He added: "Within 15 months from 1st Jan 2010 till today, we have a potential supply of almost 10,000 units of HDB and 6,000 units of private residences that will be completed in 2014-2015.
"And there are more Government Land Sales parcels coming up in the rest of this year - both on the confirmed and reserved lists and including ECs."
- CNA/al
- wong chee tat :)
Friday, November 6, 2009
Supply of private home sites in Singapore to go up
Supply of private home sites in Singapore to go up
By Hoe Yeen Nie, Channel NewsAsia | Posted: 06 November 2009 1932 hrs
SINGAPORE: The Singapore government is boosting the supply of private residential sites in the first half of next year.
It has announced new sites for sale, which could yield over 10,500 homes – the highest number of units since the Government Land Sales (GLS) Programme started in the second half of 2001.
The Urban Redevelopment Authority (URA) said on Friday that in deciding supply, it looks at market conditions and medium-term demand.
Demand has been buoyant, with over 5,700 units sold in the third quarter of this year alone – more than the total number in 2008.
While demand has cooled off slightly, following high prices and moves by the government to curb a speculative bubble, observers believe the property market is on the mend.
For the whole of 2009, regular land sales through the confirmed list were suspended due to poor market conditions. But scheduled sales will resume next year, with a site in Buangkok being one of the largest on offer.
The land parcel, located along Buangkok Drive, can be turned into a 520-unit executive condominium.
In total, eight residential sites are on the confirmed list of the GLS Programme for the first half of next year.
Located at Buangkok, Yishun, Choa Chu Kang, Tampines, Boon Lay, Simei, Sembawang and Upper Serangoon, these sites could see nearly 3,000 new homes built, all aimed at the mass market.
Choy Chan Pong, senior group director, Land Sales & Administration, URA, said: "They are all in suburban areas, so there's a limit to what prices can be. Some may be near MRT station, some may be further from MRT station, so we're really giving a very broad spread of choice for development."
Donald Han, managing director of Cushman & Wakefield, said: "A lot of these are mainly to tackle the concern if prices get out of synch in terms of market fundamentals, and if they get out of reach of the common people.
"In terms of the buyers, you won't have to panic... If you find that today's prices are not affordable, you can afford to wait. There are always alternatives.
"If you are getting married, if you need a place, you could rent first because rentals are still affordable. It has been softening over the last 12 months and it will continue to soften in the next six months."
The remaining 16 residential sites will be sold through the reserve list, which is triggered only when a developer makes a bid that the government considers acceptable.
The list includes a site at Ten Mile Junction at Bukit Panjang, which could see a 200-unit condominium built on top of existing developments. The site will be open for tender in January 2010.
More sites will also be released for hotel use under the GLS Programme.
- CNA/so
- wong chee tat :)
By Hoe Yeen Nie, Channel NewsAsia | Posted: 06 November 2009 1932 hrs
SINGAPORE: The Singapore government is boosting the supply of private residential sites in the first half of next year.
It has announced new sites for sale, which could yield over 10,500 homes – the highest number of units since the Government Land Sales (GLS) Programme started in the second half of 2001.
The Urban Redevelopment Authority (URA) said on Friday that in deciding supply, it looks at market conditions and medium-term demand.
Demand has been buoyant, with over 5,700 units sold in the third quarter of this year alone – more than the total number in 2008.
While demand has cooled off slightly, following high prices and moves by the government to curb a speculative bubble, observers believe the property market is on the mend.
For the whole of 2009, regular land sales through the confirmed list were suspended due to poor market conditions. But scheduled sales will resume next year, with a site in Buangkok being one of the largest on offer.
The land parcel, located along Buangkok Drive, can be turned into a 520-unit executive condominium.
In total, eight residential sites are on the confirmed list of the GLS Programme for the first half of next year.
Located at Buangkok, Yishun, Choa Chu Kang, Tampines, Boon Lay, Simei, Sembawang and Upper Serangoon, these sites could see nearly 3,000 new homes built, all aimed at the mass market.
Choy Chan Pong, senior group director, Land Sales & Administration, URA, said: "They are all in suburban areas, so there's a limit to what prices can be. Some may be near MRT station, some may be further from MRT station, so we're really giving a very broad spread of choice for development."
Donald Han, managing director of Cushman & Wakefield, said: "A lot of these are mainly to tackle the concern if prices get out of synch in terms of market fundamentals, and if they get out of reach of the common people.
"In terms of the buyers, you won't have to panic... If you find that today's prices are not affordable, you can afford to wait. There are always alternatives.
"If you are getting married, if you need a place, you could rent first because rentals are still affordable. It has been softening over the last 12 months and it will continue to soften in the next six months."
The remaining 16 residential sites will be sold through the reserve list, which is triggered only when a developer makes a bid that the government considers acceptable.
The list includes a site at Ten Mile Junction at Bukit Panjang, which could see a 200-unit condominium built on top of existing developments. The site will be open for tender in January 2010.
More sites will also be released for hotel use under the GLS Programme.
- CNA/so
- wong chee tat :)
Subscribe to:
Posts (Atom)